Diageo says “no intention” to sell Guinness brand amid speculation
Diageo has dismissed speculation that it plans to sell the Guinness brand or its stake in Moët Hennessy. Business analysts previously predicted that the Irish stout could fetch up to US$10 billion if sold or spun off.
The British alcoholic beverage giant’s shares jumped 4% last week due to speculation.
“We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either,” the company notes in a statement.
“We will next update the market with interim results on February 4, 2025 and we look forward to hosting our Guinness investor and analyst day on May 19/20, 2025.”
Diageo recently completed the sale of Cacique, a Venezuelan rum brand, to Bardinet, a key alcohol player in the Spanish market.
“The sale of Cacique reflects Diageo’s strategy of maintaining a sharp focus on effective portfolio management. We are confident that Bardinet is the right owner for Cacique, maintaining the brand’s authenticity and prominent position in Spain and Venezuela, as well as building its position in Continental Europe,” John Kennedy, the company president for Europe, said at the time of sale.
Meanwhile, the Johnnie Walker and Don Julio Tequila maker also predicted in its annual global trends report that 2025 will see a rise in the practice of “zebra striping,” or switching between alcoholic and non-alcoholic drinks during a single occasion.
The report also identified growing online conversations around self-care, wellness and slower social interactions, which the brand expects to shape consumer behavior this year.
